The Fate of Crypto Currencies in a Cyber Pandemic

The majority of people that use crypto currencies today are tech savvy individuals that enjoy the security and anonymity that such currencies can provide them with. However, if there were to be a cyber pandemic in the future, would they still be so secure?

And how would other users of crypto currencies deal with such an event? Let’s find out what the future might hold for these currencies if we are faced with such an event in the near future.

 

A Word About Cryptocurrencies

Despite having come on rather strong, cryptocurrencies are not immune to cyber threats. Some critics warn that cryptocurrencies are still far too insecure to be taken seriously—and they’re probably right.

It’s hard to disagree with data breaches at major cryptocurrency exchanges like Coinbase, which leaked information for more than 13 million customers (although the only names and email addresses were accessed).

More recently, about $1 billion worth of Bitcoin vanished from an exchange called Bitfinex (reportedly stolen by hackers), which resulted in affected investors filing a lawsuit against that exchange.

 

A Word About the Internet

We rely on Internet connectivity for almost everything. We connect with friends and family, browse local information, and even use cryptocurrency networks to process payments, send money abroad, and make international investments.

In essence, all these things require network connections. If we can’t connect to our banks or to each other because of a pandemic outbreak (or any other emergency), how will we manage?

Will crypto currencies be able to withstand such an assault? Could they be used by bad actors within a cyber emergency? These are important questions that need serious consideration before it’s too late!

 

How it Could Play Out

Prepping is all about being ready for any situation—including cyberwarfare. But as we’ve seen over and over again, most people don’t think they need to prep for things like this because it seems too improbable that would happen.

That thinking is foolish: if you live near an active volcano and don’t have a plan for what to do if there's an eruption, well...it’s only a matter of time before lava flows through your front door. It doesn't hurt to be prepared, just in case something unexpected comes along.

Here are some steps you can take to prepare for cyber pandemics (as well as other disasters) if you own cryptocurrency or plan on acquiring some soon.

 

How to Prepare for a Cyber Pandemic (if you own cryptocurrency)

Now, you may be wondering: if a cyber pandemic is going to wipe out all our data, won’t it also wipe out all digital currency? Good question. In fact, one of the biggest problems with cryptocurrency isn’t its inherent vulnerability; it’s that so few people have it.

If you own bitcoin and you get hit by a cyber pandemic, your stash will be worthless. But if you have enough crypto to become a node—that is, to contribute computational power to bitcoin's network—you can continue minting money even after everyone else is dead.

 

Who Will be Impacted

Only people who already have crypto currencies, such as Bitcoin, will not be impacted by a cyber pandemic. Most people don’t understand how to buy or use cryptocurrency.

Thus, they would be severely impacted if there were ever an outbreak of cyber-based illness or epidemic. The best advice for people who aren’t using cryptocurrency is to try and get some before the next wave of chaos hits.

If you can buy or mine enough currency while it’s still available, you might just make it through any coming crises. Of course, if everyone else has that same idea... Well, good luck! Just remember: It’s never too late to protect yourself from what may lie ahead!

 

Who Won’t be Impacted

Only companies that will be unaffected by cyber attacks, such as small to medium-sized businesses with no online presence. These companies don’t have valuable data and aren’t attractive to hackers. Their cyber security is basic but sufficient to stop all but basic attacks from smaller groups and individuals.

A few large companies will also fall into that category. In both cases, these businesses won’t be affected by a major pandemic because they don’t rely on computer networks for day-to-day operations or as an integral part of their business models.

 

How to Protect Yourself From Becoming Infected By Ransomware

Is it worth keeping or buying cryptocurrencies, such as Bitcoin and Ethereum, in case a major cyber pandemic strikes? In our opinion, you’re better off using traditional money and holding stocks. But we can’t tell you what to do with your hard-earned cash.

Cryptocurrencies could soar in value after an attack—and many online services could become useless. But there are many risks associated with buying crypto that traditional investments don’t pose.

These risks include price volatility, hacking problems, and uncertainty about how governments will respond to cryptos if everything goes wrong. As for us, we think it would be safer to keep funds invested elsewhere...

 

What To Do If You Have Already Been Infected by Ransomware

Ransomware is not new, but it’s newly popular. It spreads like malware—through email attachments and infected websites—but encrypts your data, holds it hostage, and demands a ransom (usually Bitcoin) to decrypt it.

There are two main ways to avoid infection: use anti-virus software or keep your computer up-to-date with patches. If you get infected, don’t pay! Most ransomware is programmed to stop working after a certain amount of time, even if you pay.

Instead, call an expert who can help remove it for free. Also, be sure to back up all your important files regularly so that they can be recovered if something goes wrong. Consider using cloud storage services such as Google Drive or Dropbox.

Or just buy a backup drive and store your files there. To protect yourself from ransomware in general, make sure to have good anti-virus software installed on any device you use for work—including your smartphone!

Some browsers also have built-in protections against downloading malicious content; Safari does, for example. However, these features aren't foolproof, so follow these tips too!

 

Conclusion – Is it Worth Holding Cryptocurrency?

There is definitely value in holding some cryptocurrency, even if it’s just for speculation. However, it’s important to remember that you could lose all your money if something goes wrong.

So, before jumping into crypto investments, consider how much money you can afford to lose and weigh your options carefully. The future of these currencies may seem shaky right now, but they have come a long way since their creation.

Many experts also believe that more regulation is coming that will ensure greater security and protection against cyber-attacks and other vulnerabilities down the road—which means there may be a reason to hold onto them for longer than expected.